Strong Organic Revenue Growth
The company reported a 5% total company organic growth, driven by 16% growth in ATM Managed Services and Digital Retail Solutions (AMS/DRS) and 5% growth in North America. This marks the fastest organic growth rate for the North America segment in the last 9 quarters.
Record Financial Performance
Record Q2 EBITDA and operating profits were achieved, with EBITDA margins at 17.8% and record second quarter operating margins at 12.6%, up 20 basis points year-over-year. Earnings per share of $1.79 benefited from a share repurchase program, reducing total diluted share count by 6%.
Strong Free Cash Flow
The company generated $102 million of free cash flow in Q2, marking a year-to-date increase of $36 million. Trailing 12-month free cash flow increased by $140 million, and conversion improved to 48% of adjusted EBITDA.
Positive Outlook for AMS/DRS
AMS/DRS organic growth was 16%, with expectations to be at the top end of organic growth guidance for the full year. A strategic investment in KAL was made to enhance AMS capabilities.